HIL LTD possible Elliott wave countsHello Friends,
Here we have shared possible Elliott wave counts on hourly chart of HIL LTD.
Post all-time high which was high of August 2021, we are still in correction phase only.
This correction is complex correction, in which we have labeled correction swings as a wave (W)-(X)-(Y), which we have completed wave (W) & (X), and now possibly we are in wave (Y),
in wave (Y) we have completed wave A and currently we are in wave B, in B we have completed wave (a) & (b) and now we have started to unfold wave (c)
which is expected to unfold in five subdivisions as a wave i-ii-iii-iv-& v, which is expected to go towards north direction as uptrend which is expected to be contra trend,
at the point which is expected as target, it is equality of wave (a) and wave (c), the point where wave (c) is going to be complete, it would be completion of wave B.
Possibly we could see negative divergence at the ending of wave v of wave (c) of wave B.
At that point, trend could give reversal to complete wave C downwards, completion of wave C would complete wave (Y).
This is overall Elliott wave structure on daily chart.
This is overall Elliott wave structure on hourly chart.
Witnessed Divergence at the end of wave v of (c) of B
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